We were a constant top 4 team who were on the periphery of a title challenge, had an attractive manager at the helm & a London club with a core of really good footballers. We were an attractive prospect with pull.
Shall I name all the players transferred during that period who were gettable that could improve us? Because lots existed. At key points we had the likes of Sissoko starting games regularly, of course better options existed. Name me some other top 4 PL teams who operate on a 'oh we've got a good starting XI, no way Jose can we upgrade, Wanyama is the best DM we can possibly attract' policy.
As for affording it, yes we could. We were regularly spending negatively net spend wise & had a tiny wage bill relative to the top 4 whilst raking in CL money each season. We were not close to bankruptcy or struggling to manage the stadium payments, that is some heavy ENIC propaganda designed to justify a ridiculous level of austerity.